Pre-foreclosure notices down

According to the Minnesota Home Ownership Center the number of pre-foreclosure notices sent out in to Minnesota home owners continues to trend downward, and the number of bank foreclosures continues to fall from the peak in about 2011.

The center projects that there will be 9,210 foreclosures in Minnesota in 2014 if the current trends continue. They make the project based on the number of pre-foreclosure notices sent out assuming that about one third of all home owners who receive the notice will end up in foreclosure.